The initial deposit for purchasing property in Tasmania typically ranges from 5% to 10% of the purchase price. This amount is paid when signing the contract of sale, securing the property for the buyer. The exact percentage may vary depending on the seller’s requirements or the terms negotiated between parties.
For first-home buyers, Tasmania offers incentives like the First Home Owner Grant, which may reduce upfront costs. It’s advisable to consult a real estate agent or financial advisor to understand specific deposit requirements and available support programs before committing to a purchase.
